The products tanker owner said the net deficitto 31 March was $6.83m, from a profit of $3.18m in 2013.
Revenue dropped to $68.87m from $79.47m,while time-charter hire costs rose to $24m from $22.7m.
Administrative expenses were higher and financialcharges of $2.45m also hit the bottom line.
CEO Marco Fiori said: “The product tankermarket was weaker than expected in Q1’14 only due to seasonal effects.
“In
